Stay away from Chase Manhattan

[WildFire]

O' MY GOODNESS
you are not the first person I have heard with a nightmare for a story about there dealings with Chase. Indeed they do SUCK, for lack of a better word. I do think someone was right however that one respondent has to be employed by Chase. what a LOOSER.

[rmurray]

As I said...I am not an employee of Chase...I am the moderator of this group and as such like to set the record straight from time to time..

Chase is very rigorous in credit investigation and downpayment verification...To actually be approved by them is a great compliment because your credit has to be VERY good..better than most who buy..

I am sure..if you are late with Chase..they are tough..this is the only way to keep their costs down and to be able to offer the lowest rates in the industry..

Again..I do not nor have I ever worked for Chase...But I hate to see the best lender in the industry in correctly bad mouthed...Like I said to the original poster...the salesperson (the same job I have) is the one at fault...probably not Chase..

[Cheryl]

I had abput the same experience except with US Bank, and my loan processor didn't have surgery and didn't go on vacation...
I started out with a pre aprroval from Greenpoint and they pulled their MH financing 1 week beofre we were supposed to close, so I had to start the whole process over with US Bank.
We were supposes to close with US Bank on Aug 28, 2003. Well we just closed with them Oct 15th. They called for every piece of paperwork twice and needed engineer stuff and the appraiser had to come up with 6 comps. The appraisal price ended up being adjusted by US Bank $19000.00 lower.
I had to move from the home I owned and move into my 5th wheel trailer for over a month. At that point I was ready to sell my first born to have a home to move
into. The whole ordeal cost me lots of money for storage units for furniture, additional costs for my construction loan etc.
I was in tears nearly every day.
I just don;t understand how a mortgage company can pull out of MH loans 1 week before closing without giving more notice than that. Any ideas????

[JoAnne L.]

I don't know about Chase Manhattan, but if you can believe this, I can do one better. Lender we were working with - CUMC Mortgage in Kalamazoo, MI knew we were in dire straits, had to completely close on our stick build home before we could even start loan process on our Redman, we were living in a canvas pop-up camper from Labor Day to Halloween. Anyhow, signing papers was another nightmare, title co. not ready for us, would not allow us to read the paperwork, rushed through everything. We made our payments, got into our home, thinking all is fine and dandy. We want to re-finance to get out of our 11.85 % intrest, but am getting confusing figures from the mortage co. In Jan. 02 when it;'s time to convert from a construction loan to a mortgage, we told title co. we were not signing anything until figures were straightened out. Time goes on, we still arn't getting explanation we asked for. In Aug. 02 we are ready to close on a re-fi, still arguing with mortgage co. about figures, they send us some paperwrok showing us proof. SURE WAS PROOF. The mortgage co. filed a loan modification form, upping the original loan amount by quite a bit, and someone forged our signatures on it. Come to find out in Jan. '02 when we told title co. we were not signing anything, they notarized and witnessed a blank piece of paper where our signatures WERE SUPPOSED TO BE, it got sent to the mortgage. co. and mort. co. mailed the documents back up here to Cheboygan county register of deeds. The mortgage co. contract states very clearly they charge 1% origination fee, yet they charged us 6.544%, filed 2 HUD statements with different figures on them, then when it was finally determined that our signatures are in deed forged, they sue us, going for the inflated costs - proven to be on a forged, illegal document, and now they are trying to tack on intrest and penalties mounting to well over $20,000. Crock of horse s**t is, since we cannot prove exactly WHO signed our names, it is very unlikely that we have a leg to stand on. Want to talk about nightmares????
Sorry to be so wordy on this, but this should be a warning to all potential buyers to read and re-read everything, and be right on top of all costs and figures, don;t let the lenders rush you through anything and lead you into a false sense of security.